2017 Standard Mileage Rate
Tax deduction for business use of car
The mileage rate for 2017 is 53.5 cents per mile. The standard mileage rate may be used instead of gas, insurance, maintenance, depreciation, etc. You can still deduct parking and tolls if you use the standard mileage rate. If you are self-employed you may also deduct the business portion of the interest paid on the vehicle loan. “If you want to chose the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business”. IRS Publication 463